China +0.34%. China was due to report gross domestic product data, but has delayed that and a slew of economic releases for the third quarter, according to an updated calendar posted on the National Bureau of Statistics’ website. The unusual move comes as the Communist Party of China holds its 20th National Congress.
Hong Kong +1.32%.
Australia +1.81%. Australia consumer confidence weekly survey drops again, down 2.8% on the week.
RBA Oct. minutes: More interest rate hikes ahead – “Rates not especially high”.
On Wall Street overnight, the major US indices are ending the day with sharp gains, following some better-than-expected earnings reports. Monday’s rally saw all sectors close more than 10% from 52-week highs. The moves to the upside in the major indices erased the sharp declines from Friday. A lower dollar, and steady to lower yields helped the tone. Dow industrial average is up 554 points or 1.87% at 30188.78. S&P index is up 95.08 points or 2.65% at 3678.16. NASDAQ index is up 354.42 points or 3.43% at 10675.81.
RBNZ’s own inflation data: 5.4% y/y in Q3 (from 5.2% prior).
NZ Q3 CPI 2.2% q/q (expected 1.6%).
Oil prices steadied in early Asian trade on Tuesday as a weaker U.S. dollar lent support, although rising shale production and fears that stubbornly high inflation could lead the world economy into a recession limited gains.
Gold prices were steady on Tuesday as the dollar faltered, although risks from looming aggressive interest hikes by the U.S. Federal Reserve limited gains in zero-yielding bullion.
Spot gold held its ground at $1,651.75 per ounce, as of 0118 GMT.
U.S. gold futures were down 0.3% at $1,658.30.
U.S. futures higher. Dow Jones +1.42%; S&P 500 +1.61%; Nasdaq +1.82%.
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